Market Overview

UPDATE: Wunderlich Securities Downgrades Endeavour International to Sell on Drilling Suspension

Related END
Endeavour International Corporation Announces Closing Of $440M Senior Secured First Lien Term Loan And Forbearance Agreement With Noteholders
Stocks Hitting 52-Week Lows

Wunderlich Securities downgraded Endeavour International (NYSE: END) from Buy to Sell and lowered the price target from $9.00 to $3.00.

Wunderlich Securities noted, "Endeavour International (END) announced today that it has suspended drilling at East Rochelle, another upset in a string of upsets. We have no certainty regarding when this well will begin production. The West Rochelle well will take 120 days to drill and will take more spending. According to our current scenario, the probability that END will generate excess cash flow to reduce debt meaningfully during 2013 is not high. We are downgrading the name from Buy to Sell to reflect this setback."

Endeavour International closed at $4.94 on Wednesday.

Latest Ratings for END

Aug 2014Canaccord GenuityMaintainsHold
Jul 2014FBR CapitalDowngradesOutperformMarket Perform
Jun 2014Canaccord GenuityMaintainsHold

View More Analyst Ratings for END
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesAnalyst Color Downgrades Analyst Ratings


Related Articles (END)

View Comments and Join the Discussion!

Partner Center